On September 21st, the HIA-COLORBOND® steel Housing 100 Report was released, which ranks Australia’s largest 100 residential builders based on the number of homes commenced each year.
HIA Chief Economist, Tim Reardon stated, “For the seventh consecutive year, Metricon Homes was revealed as the nation’s largest residential builder. Metricon Homes reported a total of 5,969 home starts, marginally lower than the 6,052 starts the previous year. These starts were across Victoria, Queensland, New South Wales and South Australia.”
MJH Group (NXT Building Group) takes the second spot with 4,143 starts, and Hutchies came in third with 3,829.
According to Mr. Reardon, “The supply of building materials has improved significantly in recent months. Shipping costs are declining and the rise in building material costs on the ground is slowing. In some cases, prices have fallen. The cost of building will continue to increase in 2022/23, but at a slower rate than last year.”
The key highlights from this report show that the largest 100 residential builders:
- Reduced their share of the new home building market from 44 per cent (all-time high) in 2020/21 to 36 per cent in 2021/22.
- Accounted for 77 per cent of the detached homes built in Australia in 2021/22.
- Built 15.0 per cent fewer homes, from 88,215 home starts in 2020/21 to 74,973 in 2021/22.
- Built 4.0 per cent fewer detached houses compared to the previous year, 21.3 per cent more multi-units.
- Despite this fall in the number of homes, earned 8.8 per cent more revenue from home construction, up to $34.7 billion in 2021/22 due to the rise in the cost of construction.
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